Case Brief
The Reserve Bank of India imposed a monetary penalty of ₹20 lakh on Mulamoottil Financiers Limited, Kozhencherry, Pathanamthitta District, Kerala. The penalty was imposed after statutory inspection and scrutiny found non-compliance with RBI directions relating to classification of non-performing assets and raising money through private placement by NBFCs-debentures. RBI said the company’s reply, oral submissions, and additional submissions were considered, but the charge of non-compliance was substantiated.
Action Snapshot
- Primary Impact
- Fine: Rs 20.0 L
- Entity Type
- NBFC
- Location
- Kozhencherry, Kerala
- Order Date